JPMorgan Chase & Co. Upgrades Reinsurance Group of America (NYSE:RGA) to “Overweight”

JPMorgan Chase & Co. upgraded shares of Reinsurance Group of America (NYSE:RGA) from a neutral rating to an overweight rating in a research note published on Wednesday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $237.00 price target on the insurance provider’s stock, up from their previous price target of $232.00.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley reduced their price objective on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Evercore ISI reduced their price target on shares of Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Wells Fargo & Company upped their price objective on shares of Reinsurance Group of America from $263.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $245.00 price objective on shares of Reinsurance Group of America in a report on Monday, February 10th. Finally, Piper Sandler lowered their target price on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $230.38.

Reinsurance Group of America Stock Down 7.9 %

Shares of NYSE RGA opened at $172.27 on Wednesday. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. The firm has a market cap of $11.37 billion, a PE ratio of 16.04 and a beta of 0.91. The company’s fifty day simple moving average is $201.62 and its 200 day simple moving average is $212.73. Reinsurance Group of America has a 12-month low of $170.19 and a 12-month high of $233.81.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. As a group, sell-side analysts forecast that Reinsurance Group of America will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio is presently 33.15%.

Institutional Investors Weigh In On Reinsurance Group of America

Several large investors have recently made changes to their positions in the business. Colonial Trust Co SC grew its position in Reinsurance Group of America by 72.2% during the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock valued at $29,000 after buying an additional 57 shares during the period. Spire Wealth Management boosted its stake in Reinsurance Group of America by 39.0% in the fourth quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 57 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Reinsurance Group of America during the 4th quarter valued at approximately $44,000. Versant Capital Management Inc increased its stake in shares of Reinsurance Group of America by 38.1% during the 4th quarter. Versant Capital Management Inc now owns 290 shares of the insurance provider’s stock worth $62,000 after purchasing an additional 80 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in shares of Reinsurance Group of America by 99.4% in the 4th quarter. Private Trust Co. NA now owns 311 shares of the insurance provider’s stock worth $66,000 after purchasing an additional 155 shares during the period. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.